In a particular episode of The West Australian’s new monetary video present Trading Up, we have a look at what brought about the nice 2022 crypto crash, the 30-year-old and the lacking billions and why Kim Kardashian was fined over a pump-and-dump scheme.
For the total video go to The West Australian.
Even the crypto true believers have had their religion shaken to the core this 12 months, as the 2 main cryptocurrencies — Bitcoin and Ethereum — misplaced greater than 60 per cent of their worth.
And making issues worse Tether — which is meant to be considerably of a security internet as a result of it’s pegged to the US greenback — stopped being so protected briefly in November.
The hassle began in May when one other so-called steady ‘coin, Terra Luna, fell off a cliff.
About $60 billion was wiped off the market.
But Terra Luna was simply the warm-up for what was about to occur when 30-year-old multi-billionaire and FTX founder Sam Bankman-Fried mentioned “I screwed up” after his firm collapsed, owing billions of {dollars}.
